Geidea, recognized as one of the 25 top Fintech companies by Forbes Middle East, has partnered with UAE based Fils a force in simplified climate action, empowering businesses of all sizes to embed climate positivity into transactions using their API.
Geidea’s collaboration with Fils not only underlines its commitment to reshaping the digital payments landscape but also signifies a pioneering step towards a sustainable future, aligning seamlessly with Fils’ mission to transform industries, including banking, travel, eCommerce, and fintech, towards environmental consciousness and carbon neutrality. This exclusive partnership is set to make a lasting impact on the UAE’s digital payments sector and beyond.
Fresh from being the official payment and POS provider for the United Nations Climate Change Conference (COP 28), Geidea demonstrates its commitment to sustainability through this collaboration with Fils.
Geidea and Fils are set to embed sustainability into every aspect of their activities. Merchants will now have the capability to empower customers by providing estimates of carbon emissions for specific transactions using Geidea’s payment gateways. Whether it’s flights, rides, products, or shipping, customers can gain valuable insights into the carbon intensity of their actions. This not only fosters a culture of sustainability but also enables informed decision-making.
After being given an estimate of their carbon footprint, the collaboration with Fils allows customers to seamlessly contribute to trusted carbon credit projects directly from any product interface. This streamlined process empowers users to actively support a greener future and reduce their carbon footprint effortlessly with every digital payments transaction. Fils is utilizing blockchain technology in its offering.
Commenting on this transformative partnership, Sailesh Malhotra, General Manager Geidea GCC stated, “At Geidea, we are thrilled to continue leveraging our technology to contribute to impactful and tangible solutions. This partnership with Fils aligns with our mission to go beyond conventional payment services, introducing a new era where sustainability is integrated into the very fabric of digital transactions.”
Nameer Khan, founder and CEO of Fils, stated, “Our collaboration with Geidea is a significant step in Fils’ journey towards leading sustainable innovation in the global fintech landscape. Starting from UAE this partnership will extend regionally, reinforcing our commitment to ESG values across key regions. Working with Geidea is not just about fulfilling our environmental mission; it’s a testament to Fils’ visionary technology and dedication to making every transaction a positive force for our planet. Together, we are setting new standards in sustainable finance, demonstrating that progress and environmental stewardship can go hand in hand.”
Prior to this Fils signed an MOU with Mashreq Bank, a financial institution in MENA. The partnership will develop a corporate carbon offsetting offering that helps corporate and institutional clients to integrate carbon offsetting directly from their Mashreq corporate accounts.
